Reference no: EM132862317

Question - Trak Corporation is a manufacturer of home furnishings. Selected financial information about Luke is listed below:

Borrowed $850,000 from a bank.

Purchased equipment for $210,000 in cash.

Purchase investments for $285,000.

Received dividends of $51,000 from an investment in Davis Corp.

Paid dividends of $55,000.

Issued shares of preferred stock for $500,000.

Repurchased outstanding common shares using $100,000 in cash.

Purchased land for $100,000 cash.

Paid $36,000 interest expense on a bank loan.

Increased Inventories by $320,000

Increased accounts receivable by $217,000.

Increased accounts payable $85,000.

Required -

a) Use the above information to calculate Trak's cash used or provided by investing activities.

b) Use the above information to calculate Trak's cash used or provided by financing activities.